Banks

Bank of Baroda has cited two major "technical" reasons as to why it withdrew the auction notice of actor-cum-parliamentarian Sunny Deol's property in Mumbai.

The Reserve Bank of India (RBI) on Thursday said that scheduled banks shall maintain an incremental cash reserve ratio (I-CRR) of 10%. This ‘temporary measure’ which comes into effect on the fortnight starting August 12, refers to the increase in net demand and time liabilities (NDTL) between May 19 to July 28. The RBI withdrew ₹2,000 currency notes from circulation on May 19, and gave people time till September 30 to deposit them with the banks.

New Delhi, Unclaimed deposits worth Rs 48,461.44 crore pertaining to 16,79,32,112 accounts have been transferred by the bank...

New Delhi, Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15, Par...

A lot of work related to banks can now be done online but sometimes it is important to visit a bank for work. However, before you spend your time and energy physically visiting the bank, it is important to keep in mind the bank holidays so that you don’t visit the bank when it is closed.

State-owned Bank of India (BOI) on Friday reported a nearly three-fold jump in net profit to Rs 1,551 crore in the June quarter due to a decline in bad loans. The Mumbai-based lender had posted a net profit of Rs 561 crore in the year-ago period.

New Delhi, State-owned UCO Bank on Friday posted an 80 per cent jump in net profit to Rs 223 crore in the April-June quarter, mainly due to a decline...

In a regulatory filing, the public sector bank said it closed the Q1FY24 with a total income of ₹ 28,579.27 crore (Q1FY23 ₹ 21,294.03 crore) and a net profit of ₹ 1,255.41 crore (₹ 308.44 crore).

The board approved the allotment of 23.04 crore shares with a face value ₹ 2 each to eligible qualified institutional buyers at an issue price of ₹ 131.90 per unit, including a premium of ₹ 129.90 per share, reflecting a discount of ₹ 0.69 (0.52%) on the floor price of ₹ 132.59, Federal Bank said in a regulatory filing.

New Delhi, LIC-promoted IDBI Bank on Monday reported a 62 per cent rise in net profit to Rs 1,224 crore in the June quarter due to a decline in bad l...

India’s private sector banks have been having a dream run at the stock markets thanks to lowering delinquencies and improving profit profile for the last two years. That seems to have changed in the first quarter, with asset quality now in focus, and their valuation metrics having changed. Kotak Mahindra Bank’s stock fell sharply in Monday trade by over 3%, as its peer ICICI Bank rose marginally to hit ₹1,000 in today’s trade. HDFC Bank too was trading marginally higher – after all the earnings were announced during the weekend.

The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 5.15 %of gross advances at the end of the June quarter, from 6.98 %a year ago. Similarly, net NPAs or bad loans declined to 1.57%, as against 2.48 %in the year-ago period.

New Delhi, HDFC Life on Friday reported 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year. The company ...

South Indian Bank on Thursday reported a 75 per cent increase in net profit at Rs 202 crore in the June quarter, helped by a decline in bad loans. The Kerala-based private sector lender had posted a net profit of Rs 115 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 2,386 crore from Rs 1,868 crore in the same period a year ago, South Indian Bank said in a regulatory filing

HDFC Bank has become the seventh largest bank in the world by market value after its merger. In this post, we take a look at...

Private sector HDFC Bank Ltd on Monday said it closed the first quarter of FY24 with a net profit of Rs 11,951.77 crore, higher than the previous year corresponding period figure.

Total income during the quarter under review increased to Rs 8,184 crore from Rs 6,357 crore in FY23, Central Bank of India said in a regulatory filing. Interest earned by the bank grew to Rs 7,225 crore over Rs 5,527 crore in the June quarter a year ago. Net Interest Income of the bank increased by 48 per cent to Rs 3,176 crore in Q1 FY24, it said.

New Delhi, Bandhan Bank on Friday reported an 18.7 per cent fall in net profit at Rs 721 crore in the June quarter due to a decline in net interest i...

Private sector lender HDFC Bank said loans grew 15.8% to ₹ 16,15,500 crore in the first quarter of the current fiscal year while the bank's advances grew 20.2 % in the period.

Fixed deposits (FDs) are a popular product because they offer guaranteed returns for a fixed tenure. Senior citizens too prefer FDs for safety, stability, and guaranteed returns. Apart from providing fixed returns, they are easy to understand, offer liquidity options, and may provide tax benefits in some cases. We have seen a series of interest rate hikes over the last 12 months or so, and FD rates have also gone up as well. While scheduled commercial banks like SBI, HDFC, Axis Bank, and others provide FD interest rates between 6.5% and 7.5%, rates for senior citizens are 25 to 50 basis points higher.

IDFC First Bank has raised INR1,500 crore ($206m) through tier-2 bonds in the Indian bond market. The unsecured bonds were raised for a tenor of 10 years with a call option at the end of five years and carry a coupon of 8.4%. Tier-2 bonds, a cost-effective source of capital for banks, offer greater flexibility to banks as they can be issued and redeemed as required. This capital raising through bond issuance will provide the bank with greater headroom for growth, IDFC First Bank said.

The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC Chairman Deepak Parekh said on Tuesday.The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Parekh told reporters here.